Industry WIKI

A bareboat charter, or demise charter, is an arrangement for the chartering or hiring of a ship or boat for which no crew or provisions are included as part of the agreement. Instead, the renter of the vessel from the owner is responsible for taking care of whatever the agreement specifies – insurance, maintenance, repairs, etc.. The act is commonly known as bareboating or bareboat chart

The Swedish BAS chart of accounts (Basic chart), represents the Swedish accounting generally accepted accounting principles (GAAP) and is an open to use chart of accounts for accounting in Sweden available in Swedish, English and German language texts. Very similar chart of accounts are commonly used in neighbouring countries and applicable internationally.

Constant purchasing power accounting (CPPA) is an accounting model that is an alternative to model historical cost accounting under high inflation and hyper-inflationary environments. It has been approved for use by the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB). Under this IFRS and US GAAP authorized system, financial capital m

A Credit valuation adjustment (CVA),

A foreign exchange hedge (also called a FOREX hedge) is a method used by companies to eliminate or "hedge" their foreign exchange risk resulting from transactions in foreign currencies (see foreign exchange derivative). This is done using either the cash flow hedge or the fair value method. The accounting rules for this are addressed by both the International Financial Reporting Standard

The accounting term Hedge relationship relates to the treatment of an insurance contract for risk mitigation on an underlying asset, and the set of tests for the valuation of this insurer/insuree contract.

IFRS 16 is an International Financial Reporting Standard (IFRS) promulgated by the International Accounting Standards Board (IASB) providing guidance on accounting for leases. IFRS 16 was issued in January 2016 and is effective for most companies that report under IFRS since 1 January 2019. Upon becoming effective, it replaced the earlier leasing standard, IAS 17.

IFRS 17 is the International Financial Reporting Standard detailing how reporting entities issuing insurance contracts account for the resulting rights and obligations. The standard describes a general approach but permits in some cases a simplified approach. The general approach requires to measure the rights and obligations based on the risk adjusted expected present value of future c

IFRS 4 is an International Financial Reporting Standard (IFRS) issued by the International Accounting Standards Board (IASB) providing guidance for the accounting of insurance contracts. The standard was issued in March 2004, and was amended in 2005 to clarify that the standard covers most financial guarantee contracts. Paragraph 35 of IFRS also applies the standard to financial instru

IFRS 9 is an International Financial Reporting Standard (IFRS) published by the International Accounting Standards Board (IASB). It addresses the accounting for financial instruments. It contains three main topics: classification and measurement of financial instruments, impairment of financial assets and hedge accounting. The standard came into force on 1 January 2018, replacing the

The International Accounting Standards Board (IASB) is the independent accounting standard-setting body of the IFRS Foundation.

International Financial Reporting Standards (IFRS) are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). They constitute a standardised way of describing a company's financial performance and position so that company financial statements are understandable and comparable across international boundaries. They are particularly relev